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What is an OT deed?

Miscellaneous Deed. This designation is used for deeds that convey property for Annexations, Affidavits, Liens, and Vacations. OT. Order Of Taking. Document by which a government entity acquires real property usually through eminent domain.

What does Deed type WD mean?

A warranty deed is a type of deed where the granter (seller) guarantees that he or she holds clear title to a piece of real estate and has a right to sell it to the grantee (buyer), in contrast to a quitclaim deed, where the seller does not guarantee that he or she holds title to a piece of real estate.

What does Deed type SW mean?

A special warranty deed is a deed to real estate where the seller of the property known as the grantorwarrants only against anything that occurred during their physical ownership. In other words, the granter doesn't guarantee against any defects in clear title that existed before they took possession of the property.

Is a warranty deed and a deed the same thing?

The warranty deed acts to transfer property ownership from the current owner the “granter” to the new buyer, the “grantee.” ... For example, when you purchase a house, the seller signs a warranty deed granting you ownership. You then sign the deed of trust as a promise to repay the lender for the loan.

What type of deed do you get when you buy a house?

There are three basic kinds of deeds: a general warranty deed, a special warranty deed, and a non-warranty or quitclaim deed. If you are a buyer, you want your deed to get you everything you bargained for.

What is the difference between the title and the deed of a house?

For real estate purposes, title refers to ownership of the property, meaning that you have the rights to use that property. ... Deeds, on the other hand, are actually the legal documents that transfer title from one person to another. It must be a written document, according to the Statute of Frauds.

Does a deed mean you own the house?

A house deed is a written document that shows who owns a particular property. When someone is ready to buy a house, the buyer and seller must sign a deed in order to transfer the property's ownership rights to the new homeowner. A deed is an important legal tool.

What does it mean to be on the title of a house?

A title is the legal documentation that includes the specifics about the property you are purchasing and who owns it, often in the form of a deed. One of the steps in buying a home is to have a title search completed prior to closing. Many first time buyers may not have heard much about this process.

What is the difference between rights and title?

As verbs the difference between right and title is that right is to correct while title is to assign a title to; to entitle.

What is the purpose of a deed?

A property deed is a written and signed legal instrument that is used to transfer ownership of real property from the old owner (the granter) to the new owner (the grantee). Historically, real property was transferred through a ceremonial act known as “livery of basin.”

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